BackSummary
Target Hospitality announced a secondary offering of 7 million shares by its largest stockholders, with no proceeds to the company.
Key takeaways
- Selling stockholders, entities controlled by TDR Capital, will sell 7 million shares at $17 each.
- The company will not receive any proceeds from the offering.
- Underwriters have a 30-day option to purchase an additional 1.05 million shares.